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According to the Fortune Business Insights report, the length of the intensive care unit (ICU) apparatus market is expected to reach $9. 13 billion by 2030, growing at a CAGR of 3. 9% over the forecast period.
Intensive Care Unit (ICU) Equipment Market
Pune, India, Oct. 30, 2023 (GLOBE NEWSWIRE) — The global intensive care unit (ICU) apparatus market will reach $6. 84 billion in 2022, and is expected to grow from $6. 98 billion in 2023 to $9. 13 billion in 2023. 2030, developing at a CAGR of 3. 9% over the forecast period.
Intensive care is primarily the highest point of treatment for critically ill patients with recoverable, life-threatening illnesses. Intensive care unit (ICU) devices include dialysis machines, ventilators, pulse oximeters, catheters, pumps, tubes, and bedside monitors. Increasing geriatric population, increasing fatal injuries and sports injuries, and increasing prevalence of chronic diseases are estimated to drive the market expansion during the forecast period.
Fortune Business Insights™ analyzed this in a report titled “Intensive Care Unit (ICU) Equipment Market, 2023-2030. “
Key Industry Development
February 2023: Stryker introduced SmartMedic and the enhanced ICU bed platform at the Indian Society of Critical Care Medicine Annual Conference. SmartMedic improves patient care and caregiver safety.
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Key things to remember:
The expansion of the critical care apparatus market is driven by the expansion of chronic diseases, the increase in the geriatric population, and technological advancements in critical care apparatus.
The Critical Care Equipment Market is segmented by Product Type, Application, and End-User.
The major players in the medical device market are GE Healthcare, Philips Healthcare, Siemens Healthineers, Medtronic, and Dräger.
These corporations invest in research and development, new product development, and mergers and acquisitions to achieve a competitive advantage in the market.
The critical care apparatus market is facing some challenges, such as emerging healthcare costs, increasing regulation of medical devices, and shortage of healthcare professionals.
Learn the key in the report:
The major players in the Intensive Care Unit (ICU) Equipment market are General Electric Company (United States), Koninklijke Philips N. V. (Netherlands), Getinge AB (Sweden), Medtronic (Ireland), Fresenius SE
Scope of the report:
Report Coverage
Details
Forecast Period
2023 to 2030
CAGR Forecast Period 2023 to 2030
3,9%
2030 Value Projection
$9. 13 billion
Base Year
2022
Market in 2023
$6. 98 billion
historical knowledge for
2019 to 2021
Number of pages
245
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Drivers & Restrictions
Increasing Demand for Intensive Care Unit (ICU) Equipment to Drive Market Growth
The increasing demand for intensive care unit (ICU) devices, owing to the increase in critical admissions in emerging and evolved countries, is estimated to drive the expansion of the intensive care unit (ICU) apparatus market during the forecast period. The increasing burden of respiratory diseases globally due to obesity, lifestyle changes, and smoking is driving the expansion of the market.
However, high prices for ICU equipment would likely obstruct the expansion of the market during the projected period.
Scope and segmentation of the report:
By Product
Beds
Amateurs
Pulse Oximeters
Dialysis equipment
Other
By patient
Adult
Pediatric
By Application
Neurology
Cardiology
Respiratory
Oncology
Trauma
Other
By End User
hospitals
Specialty Clinics
Other
By Region
North America
Europe
Pacific
Latin America
Middle East & Africa
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Various Technological Advancements Growth of the Augmented Beds Segment
By product, the market is segmented into beds, ventilators, pulse oximeters, dialysis equipment, and others. The bed segment had the largest share of the market in 2022. The expansion is attributed to technological advancements in built-in nurse call systems and wireless technology.
The spread of respiratory diseases among adults has encouraged the expansion of the adult segment
By patient, the market is segmented into adult and pediatric. The adult segment held the largest share of intensive care unit (ICU) apparatus market in 2022. The expansion is attributed to the accumulation of respiratory diseases among adults due to the higher rate of smoking. , leading to a higher number of ICU admissions.
The expansion of the cardiology segment is driven by the increasing adoption of a sedentary lifestyle through a younger population.
Based on applications, the market is categorized into Neurology, Cardiology, Respiratory, Oncology, Traumatology, and others. The cardiology segment held the largest percentage of the market in 2022 due to the increasing adoption of a sedentary lifestyle, which has led to an accumulation of cardiovascular disease cases among the young population.
High Patient Admissions Drove Hospital Segment Growth
By end-user, the market is segmented into hospitals, specialty clinics, and others. The market dominated the hospital segment in 2022 due to increasing patient admissions to hospitals.
Geographically, the market is studied in North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
Cover page of the report
He proposes:
Key growth drivers, limiting factors, opportunities, and potential challenges for the market.
A comprehensive review of regional developments.
List of players in the sector.
Key tracked through market players.
The most recent advancements in the industry come with product launches, partnerships, mergers, and acquisitions.
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Regional Perspectives
Increasing Demand for Critical Care Equipment Due to COVID-19 Driven Market Growth in North America
The North American market share was $2. 51 billion in 2022. This expansion is attributed to the increasing demand for critical care equipment, such as ventilators, due to the effect of COVID-19 in North America.
Europe is expected to witness a significant expansion in the expected era due to the increase in the geriatric population and the increased knowledge of the device among the patient population in the evolved European countries, in addition to France, the United Kingdom and Germany.
Competitive Landscape
The increasing concentration of key players in launching new products for market expansion.
The intensive care unit (ICU) devices market is comprised of key players, including GENERAL ELECTRIC COMPANY, Medtronic, B. Braun Melsungen AG, and Koninklijke Philips N. V. The increasing focus of those market players on launching new products and expanding their product portfolio to aid market expansion during the forecast period.
Frequently Asked Questions
What is the Intensive Care Unit (ICU) Equipment Market Size?
The length of the intensive care unit (ICU) equipment market will be $6. 98 billion by 2023.
At what rate is the intensive care unit (ICU) equipment market growing?
The intensive care unit (ICU) equipment market will exhibit a CAGR of 3. 9% over the forecast period, 2023-2030.
Related Reports:
Ventilator market share, trends and forecasts to 2030
Dialysis Equipment Market Size, Share, Trends, and Growth | Global Forecast Report 2030
Pulse Oximeters Market Size, Share | Global Forecast Report 2030
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Attached
Intensive Care Unit (ICU) Equipment Market